Holderness Investments Co. Sells 278 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Holderness Investments Co. decreased its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY) by 0.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,492 shares of the biopharmaceutical company’s stock after selling 278 shares during the period. Holderness Investments Co.’s holdings in Bristol Myers Squibb were worth $2,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of BMY. Brighton Jones LLC boosted its holdings in Bristol Myers Squibb by 33.4% in the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock worth $1,116,000 after buying an additional 4,935 shares during the period. Bank Pictet & Cie Europe AG bought a new position in Bristol Myers Squibb in the 4th quarter worth $13,094,000. United Capital Financial Advisors LLC boosted its holdings in Bristol Myers Squibb by 3.2% in the 4th quarter. United Capital Financial Advisors LLC now owns 180,241 shares of the biopharmaceutical company’s stock worth $10,194,000 after buying an additional 5,615 shares during the period. Finward Bancorp bought a new position in Bristol Myers Squibb in the 4th quarter worth $219,000. Finally, Evergreen Capital Management LLC boosted its holdings in Bristol Myers Squibb by 4.2% in the 4th quarter. Evergreen Capital Management LLC now owns 41,113 shares of the biopharmaceutical company’s stock worth $2,325,000 after buying an additional 1,654 shares during the period. Institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the subject of several recent analyst reports. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 target price for the company. in a report on Tuesday, August 5th. William Blair reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Jefferies Financial Group dropped their target price on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Finally, Wall Street Zen cut shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $56.38.

Bristol Myers Squibb Stock Up 2.7%

Shares of NYSE BMY opened at $47.82 on Thursday. The firm’s 50-day moving average price is $47.23 and its 200-day moving average price is $51.66. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The stock has a market capitalization of $97.33 billion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 2.38 and a beta of 0.36. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.39. The firm had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The business’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.07 EPS. On average, equities research analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.2%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio is presently 100.00%.

About Bristol Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.